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Trump and RFK Jr.
Health and Human Services Secretary Robert F. Kennedy Jr. speaks quietly to President Donald Trump during a news conference about autism (Tom Brenner/Getty Images)

Kimberly-Clark to buy Tylenol maker Kenvue, target of Trump’s autism attacks, in a deal worth $48.7 billion

Shares of Kimberly-Clark dropped sharply on the news, while Kenvue jumped.

Giant American drugmaker Kimberly-Clark said it is set to buy Kenvue, the maker of Tylenol whose stock has been pummeled by allegations from the Trump administration that its signature pain reliever causes autism, in a deal with an enterprise value of $48.7 billion.

Shares of Kimberly-Clark fell 15% premarket on the news, while Kenvue rose 20%. 

Right off the bat, the deal could have a couple of obstacles standing in its way. Most notable would be the Trump administration, which could take aim at the merger, though the White House hasn’t commented on the deal yet.

And Kimberly-Clark’s precipitous stock drop already eats into the value that Kenvue shareholders would get in the deal: factoring in this morning’s premarket drop from Kimberly-Clark, the deal would value Kenvue at $18.42 a share. 

That’s below the $21.01-a-share consideration in the deal announcement for Kenvue, based on Friday’s closing prices. Kenvue’s stock was at $20.54 in early September before The Wall Street Journal broke the news that the Trump administration was planning to link Tylenol to autism. The stock has fallen 30% since then.

The companies said they have identified about $1.9 billion in cost savings in the first three years after the deal closes, which they expect to happen in the second half of 2026. The companies also said they had identified “approximately $500 million in incremental profit from revenue synergies.”

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UnitedHealth falls after Berkshire dumps its stake while picking up Macy's and Delta

UnitedHealth fell more than 5% in premarket trading Monday after Berkshire Hathaway disclosed Friday that it had fully exited its stake in the health insurer.

According to Berkshire’s latest 13F filing, which shows holdings as of March 31, the conglomerate sold its entire ~5 million-share stake in UnitedHealth — less than a year after first buying the stock in the second quarter of 2025 — as part of a broader portfolio overhaul under Greg Abel, who succeeded Warren Buffett as CEO on January 1.

UnitedHealth shares have been volatile over the past year amid concerns over rising medical costs and DOJ scrutiny of its billing practices — though its latest earnings report showed signs of stabilization, with the company beating Q1 earnings estimates and raising its full-year profit outlook.

Berkshire also fully exited positions in a number of other stocks in the first quarter, including Amazon, Domino’s, Pool Corp, Mastercard, and Visa, all of which were mildly in the red in early trading.

Meanwhile, Berkshire added Delta Air Lines and Macy’s to its equity portfolio, while boosting stakes in Alphabet and the New York Times.

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NextEra reportedly in talks to acquire Dominion, valuing the company at around $66 billion

Dominion Energy soared 12% in premarket trading on Monday on reports that NextEra Energy is in advanced talks to acquire the company in a deal that would create a more than $400 billion utility giant (including debt), as suppliers race to meet growing demand to power AI data centers.

The mostly-stock deal would value Dominion at about $76 per share, or around $66 billion, and see NextEra exchange about 0.8 per share for each outstanding share of Dominion, Bloomberg reported, citing people familiar with the matter. The arrangement, which requires federal and local approvals but could be announced as soon as today, would leave NextEra shareholders with about 75% of the combined company as well as a small additional cash component.

Including debt, the deal values Dominion at ~$116 billion and would land as the largest power tie-up on record — underscoring the scale and scope of today’s energy businesses in the age of AI.

NextEra Energy, America’s biggest utility company with an enterprise value of more than $300 billion, has seen its valuation lead over its rivals narrow in recent years. Buying Dominion, which is worth ~$111 billion including debt, would allow NextEra to reach deeper in PJM Interconnection. Importantly, PJM is the country’s largest electric grid and covers Virginia, which has America’s biggest concentration of data centers.

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SpaceX reportedly plans to IPO in mid-June, chooses to list on Nasdaq

Elon Musk’s aerospace and satellite manufacturer, SpaceX, could price its initial public offering as soon as June 11 and make its public market debut on June 12, Reuters reported Friday. SpaceX is preparing for a monster IPO, reportedly aiming to raise $75 billion at a record $1.75 trillion valuation.

Sources familiar with the matter told Reuters that Musk’s company had chosen to list on the Nasdaq.

SpaceX is moving through its IPO timeline and is said to be ready to hit the road to secure commitments from investors around June 4, according to Reuters.

SpaceX did not immediately respond to requests for comment.

Go Deeper: What happens to Tesla stock when SpaceX goes public?

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Figma spikes after raising full-year sales outlook as the software company leverages AI for growth

Figma jumped postmarket Thursday after posting impressive sales in Q1, surpassing Wall Street expectations and raising its full-year guidance. The key numbers:

  • Q1 revenue of $333.4 million (compared to analyst estimates of $316 million).

  • Q2 sales guidance of $348 million to $350 million (estimate: $329.7 million).

  • Full-year revenue between $1.422 billion and $1.428 billion (up from previous guidance of $1.37 billion).

The digital design software firm is the latest company to diminish investor fears about AI-induced disruption by making the technology work for them. Like Atlassian or Datadog, Figma said it was able to use AI to its advantage, bringing more customers on board and getting them to spend more.

In the press release, Praveer Melwani, Figma CFO, said:

As AI gets better, Figma is accelerating and customer usage and workflows on our platform are deepening. Our platform and AI products drove faster growth for both new customer acquisition and expansion within existing accounts.

Revenue grew 46% year over year in Q1 2026, an acceleration from growth of 40% in Q4 2025.

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